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25%
Increase in profits in a year.
2x
Increase in sales within six months
33%
Reduction in Customer Churn
Ecommerce Web Scraping for Product Data Mining
0.7 quintillion bytes of Ecommerce data are produced on the internet every day. Hidden in all this data are business insights that can trigger explosive growth for Ecommerce industry players. But, the ongoing trend of brands moving their businesses to online platforms has hiked the competition in the eCommerce industry. The problem is that extracting product data at a large scale can be extremely challenging due to the volume of data being created and the need for up-to-date, high-quality data. No wonder, we are finding many more takers of Ecommerce web scraping with increasing data awareness.
This calls for a high demand for tools and ways to extract product data to be the best in the industry. Consequently, many e-commerce and consumer brands turn to eCommerce web scraping service providers instead of developing a solution in-house. Ecommerce data scraping service providers help in extracting data from leading e-commerce websites. This is an excellent way for businesses to involve product optimization as it provides optimum results and helps narrow down the sets of product variations.
PromptCloud helped one of the leading eCommerce industry giants to boost profits by nearly 25%. This case study covers:
- Client’s web scraping objectives and challenges
- How PromptCloud executed this project
- Business outcome delivered
About the Client
Headquartered in New Jersey, the client is a leading player in the eCommerce space. The company has an e-commerce platform where customers and vendors buy and sell their products online.
Business Challenges
With an ever-increasing customer base, the client had to deal with cut-throat competition from the existing e-commerce giants like Amazon, eBay, and more. The client’s inability to price products competitively and meet changing customer demands significantly impacted their sales rate. The client witnessed a massive dip in its sales for three consecutive quarters.
The client, therefore, required continuous updates about the products, pricing, and reviews available on the competitor’s e-commerce websites. The company needed a robust and reliable source of daily product data from hundreds of online stores. They had already built an internal web scraping team and tried a DIY eCommerce crawler; however, web scraping eCommerce websites at such a large scale became a significant burden on their team and turned into a bottleneck for their growth. At this point, they decided to outsource certain critical areas of their eCommerce scraping and data extraction to enable their team to focus on marketing and sales activities.
The client wanted to extract product information and track pricing trends by crawling eCommerce sites. The eCommerce industry player approached PromptCloud looking to engage on an initial trial project. This project proved very successful, so today, PromptCloud manages 95% of all its data extraction activities.
Solutions Offered: Ecommerce Web Scraping
PromptCloud’s dedicated team of experts initiated a three-pronged approach to solve the client’s existing challenges. In the initial phase, the team worked closely with the client to understand their eCommerce web scraping requirements and target websites. Our experts offered a free trial for the client. It helped them understand the quality of the data feeds offered.
In the second phase, our team evaluated the frequency of crawls the client demanded. This helped the team to choose the right pricing plan for the client. Once the client completed the payment process, the clean and fully prepped data was then made available for our clients in their preferred format.
We set up the entire data pipeline wherein the data gets automatically delivered to the client via our API. We scraped eCommerce data sources in the background, extracting record-level details as per the client’s desired format.
PromptCloud offered a robust ecommerce web scraping solution to gather the product details and monitor the pricing from the top 20 ecommerce websites, including Amazon,eBay, Myntra, and much more. About 5,000 products from competitor sites were scraped every day for prices and reviews and then provided to the client in ready-to-use formats using our ecommerce web scraping services. All the records contained product details, product information on the manufacturer’s websites, and review/pricing details.
To deliver the top-notch data, PromptCloud created a dedicated internal team to work exclusively on this project. Our team regularly connects with the client to discuss KPIs, new projects, and roadblocks, ensuring their web scraping system is always perfectly aligned with their business goals.
Business Outcomes
PromptCloud provided the client with an easily manageable solution where they were able to maintain a consistently high level of data quality when collecting eCommerce data feeds. This allowed the company to identify the gaps in its offerings and precisely tweak strategies.
By partnering with PromptCloud, the client could immediately scale their data extraction efforts to stay ahead of the competition. Offloading the accumulation of eCommerce data feeds allowed the client to focus on product development and business strategy. The provision of such data has allowed the company to accelerate its product development process without worrying about the maintenance of its data pipeline. Ecommerce web scraping allowed the client to have a compelling dynamic pricing strategy and adjust the prices of products and services in response to real-time demand. As a result, the client was able to boost profits by 25 percent within a year.
Besides, the client was able to:
- Track in-demand ecommerce product data feeds, top-ranking products, product description, seller details, shipping details, and more. This helped them in understanding product trends
- Predict the shortcomings and detect price fluctuations by scraping competitors’ pricing
- Track competitor prices on similar products and determine their profitable product niche with the capability of consistent monitoring
- Adjust their inventory counts when the stock reaches a certain point and have the right products in the right quantity.
- Understand customer perspectives about similar products and position the right product to the right customer
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